Selling a Car is not an easy task! Buyers often have a thousand different questions they want answered before they buy and can stumble at the last minute due to many different factors.
Here are 5 Common Reasons Why Car Buyers Don’t Purchase and How Your Dealership Can Avoid Them.
It will come as no surprise to hear, the biggest reason why car buyers don’t purchase is because of the price. A customer wants to get a car as cheap as possible, but your dealership wants to get the highest amount possible, that often doesn’t mix.
To reduce the risk of losing a potential customer due to price, it is important that your dealership understands the customers budget requirements beforehand. When a potential buyer attends your dealership, quickly identify what they are looking for and what their spending budget is. Once you find out how much a buyer can spend try to find them a suitable solution that is within their price range. Try to avoid showing them vehicles that are well and truly out of their budget because they will often leave without purchasing.
It is also just as important that your dealership frequently reviews your vehicle pricing. Customers will always go with the cheapest seller. Research your competition, see how much they are selling similar cars for and try to match or better their deal. The better your pricing strategy is and the more you understand the buyer, the less likely you ill be to lose them because of price.
The second biggest reason why customers don’t go through with a vehicle purchase is because of finance issues. For many, the only way they can buy a car is by having access to finance. To minimise the risk of losing a potential customer due to finance is to offer customers cheap and easy finance through your dealership.
The benefit of having finance options for customers is it simplifies the buying process. A Car buyer won’t need to manually reach out to different lenders or complete multiple applications in order to gain finance. Everything will be centralised within your dealership!
Related Article: How Motor Dealership in the UAE Can Increase Revenue in 2022.
3. Car History
Buying a car is a massive financial commitment. The number one fear for all car buyers is buying a vehicle with problems. A vehicles history is one of the biggest stumbling blocks for customers in 2022.
To avoid losing a customer due to a vehicle’s history, your dealership should provide potential car buyers with free Car Reports. The benefit of giving potential buyers free car reports is it shows them a vehicle full history from an external third-party source. Offering a third-party car report will show customers that you have nothing to hide and are looking out for their best interests.
Your dealerships reputation often makes or break a sale. Car buyers will only buy from a dealership that they trust. To build trust with customers, your dealership needs to collect and promote online reviews.
The benefit of collecting and promoting online reviews is it shows potential customers what your dealership has done for others. If your dealership has countless positive reviews, buyers will be more enticed to buy from you as you have a good selling reputation.
Related Article: How UAE Car Dealers Can Get More Google Reviews.
5. Trade In Options
Most buyers will need to sell their current car before they can purchase a new car. Another common sales stumbling block is vehicle trade ins. To reduce losing a potential sale, your dealership needs to have a strong vehicle trade in option.
Having a strong trade in process will ultimately streamline a customer’s buying journey. A customer can trade in their current vehicle, find a vehicle they are looking to buy, and reduce their payment amount of their next vehicle in the process. Having a strong trade in process also offers many advantages for your dealership, the main benefit being your dealership gets a new car to sell for a profit.
Related Article: New Opportunities for UAE Motor Dealers in 2022.
Selling Cars will always have its challenges. As a dealership, the best thing you can do is have strategies in place that simplify the buying process. The 5 examples presented are common reasons why customers don’t purchase and can be avoided through the solutions presented.
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EasyCars by Jeal is a UAE Motor Industry Specific, Dealer Management Software that automates the daily tasks of running a motor dealership. Using the latest technologies, EasyCars removes frustrations experienced at the dealership - opening the doors to future growth.
EasyCars features include Simple Stock Management, Automated Advertising, Automatic VAT Calculations, Xero Accounting Integration, Facebook Automotive Inventory Ads, Dealer Websites and Business Reporting in the one central management software.
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